This announcement builds on CIBC's leading presence in the mobile
payments market among Canadian banks, and on TELUS' commitment to
putting customers first by offering a convenient and secure form of
payment using mobile technology. Beginning today, TELUS customers using
the app and a CIBC credit card account will be able to make mobile
payments at many of the most popular retailers in Canada including
coffee shops and grocery stores.

"We are excited to be working with TELUS to put the convenience of
mobile payments into the hands of more Canadians and build on our
industry-leading mobile payments offer," said Todd Roberts, Senior
Vice-President, Payments Strategy and Innovation, CIBC. "Our clients
have embraced mobile technology as part of their banking experience,
and we believe 2014 will be a year of significant growth for mobile
payments as more Canadians start reaching for their phone instead of
their wallet at the checkout counter."

Delivering mobile payments to customers positions both CIBC and TELUS to
meet the strong demand for this service today, while also establishing
a strong foundation to adapt to future developments in the market for
mobile payments and wallets.

"This partnership with CIBC offers TELUS customers simple but powerful
new ways to make everyday purchases," said Drazen Lalovic,
vice-president of market planning, TELUS. "Our customers have told us
they want an easy-to-use and secure way to pay using their mobile
devices and today's announcement is another step towards enhancing
their mobile experience."

CIBC credit card clients using the following devices on the TELUS
network will be able to download the CIBC Mobile Payment App from
Google Play beginning later today:

Samsung Galaxy S4

Samsung Galaxy SIII

Samsung Galaxy Note II

HTC One

Users of the following BlackBerry devices on the TELUS network will have
access to the CIBC Mobile Payment App later this month:

BlackBerry Z10

BlackBerry Q10

BlackBerry Bold 9900

Mobile Payments are widely accepted

Credit card payments using the CIBC Mobile Payment App are already
accepted at thousands of the most popular retailers in Canada for
purchases under $50, using the same technology Canadians use today for
contactless credit card payments. According to MasterCard:

19 of the top 25 merchants by volume accept contactless payments

There are now 250,000 contactless payment readers in Canada

Canadian smartphone owners say they want to pay with their phone for
everyday purchases:

Of the 68 per cent of Canadians aged 18-44 who own a smartphone, 46 per cent say they are interested in using a smartphone to make everyday
purchases

"Right from day one when we launched our first of its kind mobile
payment app, we heard from clients about how convenient it is, and
about the positive reactions from their friends and family when they've
paid at the checkout counter with their phone," added Mr. Roberts.
"That's why we are excited about today's announcement with TELUS, which
represents a significant expansion in the mobile payments market and
brings this service to more Canadians in 2014."

NFC is an emerging technology that allows wireless devices to
communicate by being touched or waved past each other and securely
exchange information such as payment credentials.

In November 2012, CIBC became the first bank in Canada to complete a
mobile credit card transaction using an NFC-enabled smartphone, and
today's announcement means that CIBC is the only bank to offer a mobile
payment app with two major carriers in Canada, giving more Canadians
the opportunity to pay with their phone.

About CIBC

CIBC is a leading North American financial institution with nearly 11
million personal banking and business clients. CIBC offers a full range
of products and services through its comprehensive electronic banking
network, branches and offices across Canada, and has offices in the
United States and around the world. You can find other news releases
and information about CIBC in our Press Centre on our corporate website
at www.cibc.com.

About TELUS

TELUS (TSX: T) (NYSE: TU) is a leading national telecommunications
company in Canada, with $11.3 billion of annual revenue and
13.3 million customer connections, including 7.8 million wireless
subscribers, 3.3 million wireline network access lines, 1.4 million
Internet subscribers and 776,000 TELUS TV customers. Led since 2000 by
President and CEO, Darren Entwistle, TELUS provides a wide range of
communications products and services, including wireless, data,
Internet protocol (IP), voice, television, entertainment and video.

In support of our philosophy to give where we live, TELUS, our team
members and retirees have contributed more than $300 million to
charitable and not-for-profit organizations and volunteered 4.8 million
hours of service to local communities since 2000. Fourteen TELUS
Community Boards lead TELUS' local philanthropic initiatives. TELUS was
honoured to be named the most outstanding philanthropic corporation
globally for 2010 by the Association of Fundraising Professionals,
becoming the first Canadian company to receive this prestigious
international recognition.